Treasury Regulations (Amendment) (Provisional)

Overview

The Provisional Treasury Regulation under the Audit Acts 1901-1906, numbered as Statutory Rules 1909, No. 72, was enacted in 1909 by the Governor-General in Council, in recognition of the urgent need to address a specific issue within the administration of sugar bounty payments. This legislative instrument was introduced to ensure that any payment of sugar bounty to a person other than the grower’s banker required the approval of the Collector of Customs for the state in which the sugar-cane was grown. The regulation aimed to provide a safeguard against fraudulent claims by mandating a layer of oversight and verification, thereby ensuring the integrity and accountability of the sugar bounty payment process. The policy objective behind this regulation was to prevent improper payments by introducing a necessary check through the Collector of Customs, thus maintaining the accuracy and reliability of financial transactions related to sugar bounties. This Provisional Regulation came into immediate effect, reflecting the government’s commitment to swiftly addressing identified gaps in the existing administrative framework.

Scope and Application

The Provisional Treasury Regulation under the Audit Acts 1901-1906, as outlined in Statutory Rule 1909. No. 72, specifically pertains to the amendment of Treasury Regulation 96 (c) concerning the payment of Sugar Bounty. This regulation applies to any person who is not the grower’s banker and seeks to make a payment related to sugar bounty. The scope of this regulation is limited to transactions involving the payment of Sugar Bounty and requires that any order in Form 24 or 24A be approved by the Collector of Customs for the state in which the sugar-cane is grown. This regulation is geographically applicable across the Commonwealth of Australia, as it is issued under the authority of the Commonwealth government. It is noteworthy that this Provisional Regulation is effective immediately due to its urgent nature, although its long-term validity may depend on subsequent legislative or regulatory action.

Key Provisions

The main operative sections of this Statutory Rules document, specifically the Provisional Treasury Regulation under the Audit Acts 1901-1906, introduce an amendment to Treasury Regulation 96 (c). This amendment requires that any order, in Form 24 or 24A, which authorises the payment of Sugar Bounty, must be approved by the Collector of Customs for the state where the sugarcane is grown. This approval must be obtained before the order is recognised, if the beneficiary of the bounty payment is not the grower’s banker (Treasury Regulation 96 (c)). The obligations imposed by this amendment on the parties involved are clear and straightforward. Any party seeking to have a Sugar Bounty payment processed must ensure that the relevant order is approved by the Collector of Customs for the state where the sugarcane is grown. This requirement applies specifically to orders where the beneficiary of the payment is not the grower’s banker. Failure to comply with this requirement means the order will not be recognised, and the intended payment will not be processed. The regulation also establishes potential consequences for non-compliance. Although the document does not explicitly detail the penalties or consequences for failing to comply with the regulation, it is implied that such non-compliance could lead to administrative issues and potential financial losses for the parties involved. Additionally, the use of the term “shall not be recognised” suggests that non-compliance could result in legal ramifications, depending on the context and the specific circumstances of the breach.